Van Heusen eyes Rs 500 cr turnover

Van Heusen, the menswear brand, is targeting a turnover of Rs 500 crore within a period of 3-5 years.

Addressing the media here, Kedar Apshankar, brand head of the company, said the company was targeting Rs 200 crore turnover by the end of 2006-07 fiscal with a steady annualised growth rate of 30 per cent.

"Van Heusen has the track record of having achieved 30 per cent growth rate for the last three years and the same is expected in the current fiscal."

As part of the strategy to achieve the target, the company would open more exclusive outlets across the country. "We will open 50 outlets within 2-3 years, which may go up to 100 in the next 5 years," he added.

Van Heusen currently runs 22 flagship shops in major metros. It recently opened an exclusive showroom in Kochi. Briefing on the two immediate initiatives of the company, he said Van Heusen would introduce partywear for men next month.

The company would also launch women's wear within two months as a major deviation from its 16-year-old business pattern in India.

"We are the No.1 brand by volume in businesswear in India. We want to be No.1 by value in a few years and the diversification of products and expanding the chain of exclusive outlets are part of the strategy," he said.